{"id":1817,"date":"2019-11-18T06:00:58","date_gmt":"2019-11-18T06:00:58","guid":{"rendered":"https:\/\/blogs.autodesk.com\/bim360-release-notes\/?p=1817"},"modified":"2019-11-18T21:36:45","modified_gmt":"2019-11-18T21:36:45","slug":"bim-360-cost-management-update-november-2019","status":"publish","type":"post","link":"https:\/\/blogs.autodesk.com\/bim360-release-notes\/2019\/11\/18\/bim-360-cost-management-update-november-2019\/","title":{"rendered":"BIM 360 Cost Management Update – November 2019"},"content":{"rendered":"

Following the launch of BIM 360 Cost Management this year, the Cost Management team has released a number of enhancements to help you better manage all cost-related construction activities and simplify the change process.<\/span><\/p>\n

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Fundamental Forecasting Functionality<\/b><\/h1>\n

As the first step to incorporating forecasting functionality into Cost Management, we have added new columns in the Budget & Contracts tab, which allows you to make forecast adjustments, view forecast final costs, and forecast variances.\u00a0<\/span><\/p>\n

To help demonstrate how you might use this feature, let us look at a real-life example (see video below). You have an approved budget of $5,590,416.37 for your internal site management staff; you can see this in the Projected Cost column within the Budget tab. Every month when you get your actual costs in, you can input the amount in the new Actual Cost column. If you don\u2019t make any adjustments, in the Forecast Cost to Complete Column and the Forecast Final Cost column you will see the same total as the Projected Cost column.<\/span><\/p>\n

But say you need to add two more staff to the project, which will end up increasing the final cost to more than what was approved. Here is where the Forecast Adjustments column comes into play. Click to open the edit forecast adjustments window and add a line item for each staff member. Once the adjustment is complete, the Forecast Adjustments Column will display the total adjustment amount, and the Forecast Cost to Complete and Forecast Final Cost columns will reflect the change. You can also easily view the variance in the Forecast Variance column. Teams now have fundamental forecasting functionality at their disposal.<\/span><\/p>\n

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